Amazon's Jeff Bezos to start $2B U.S. charitable fund

Carrie Elliott

While no big announcement was expected to be made regarding the location of the second headquarters, that didn't stop Rubenstein from slyly asking Bezos where HQ2 will be heading to.

Fox News political contributor Tammy Bruce, Christine Pelosi, daughter of Rep. Nancy Pelosi (D-Calif.), American Greatness editor Chris Buskirk on how Amazon CEO Jeff Bezos launched a $2 billion "Day One Fund" to support underserved communities. "We will announce a decision before the end of this year", Bezos said. "The secret sauce of Amazon - the number one thing that has made us successful has by far is obsessive, compulsive focus on the customer". "September is Childhood Cancer Awareness month", he wrote saying Amazon employees around the globe will be wearing pjs to work to show their solidarity and support to children suffering from the deadly disease. "It was a Day 1 outlook that made me reach out to ask for suggestions on approaches to philanthropy a year ago".

"I'm thinking I want much of my philanthropic activity to be helping people in the here and now-short term-at the intersection of urgent need and lasting impact", he wrote at the time. "Never have I been more comfortable at an Amazon board meeting!", Bezos' post read.

Despite his concerns with Mr Trump, Mr Bezos said that he was not overly concerned about the future of the news media.

The private non-profit foundation in its 2016 tax filing reported almost $46 million USA in assets, and giving away $30 million U.S. in grants support its missions in early education, K-12 schools reform and youth leadership development and scholarships.

An Amazon spokesperson confirmed that the money will all come from Bezos, though there are few details about how the fund will operate.

While the online retail giant's presence made Seattle the fastest-growing big city in the USA, it also has taken a toll on its residents, driving up rent prices, clogging traffic and overwhelming public transportation.

Some 184 of the world's wealthiest individuals and families, including Tesla's Elon Musk and the co-founders of Airbnb have joined The Giving Pledge, a commitment started by Gates and Buffett to give away at least half their wealth. Alibaba owns the South China Morning Post.

Bezos, who founded Amazon as an online book store more than two decades ago, has seen his wealth surge along with Amazon's stock.

In 2016, Amazon renovated a vacant hotel on land designated for its new headquarters so it could be used temporarily by the non-profit Mary's Place to shelter 200 homeless families.

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